Downtown San Diego Condo Information, Reviews and News

Selection of condos available for sale in Downtown San Diego will continue to be tight. As of June 2022, only .007% of the total condo market is up for sale (roughly 75 for sale out of 10,850 total condos).  If you want to buy a condo hurry up and start shopping in person and try to buy one before your choices become more limited and you eventually face more competition.  The for sale inventory is getting to a crisis level if your a buyer, lately there have been cases where in a 250 unit building there is nothing for sale at times.  On average most condos are selling within 13 days and for 2% OVER the asking price.

The downtown market has a lot of momentum right now and is getting hotter with no signs yet of slowing down.  Thats right the sales data is still showing upward momentum in prices even with the mortgage interest rates rising up towards 5%.  The current trends of people who can work remotely moving to San Diego combined with the reopening of more places downtown (theaters, restaurants, shops, etc) is fueling strong demand from condo buyers looking for a more active and efficient downtown lifestyle.

I'm expecting very little turnover this year.   If you want a brand new condo, you have to wait till 2025 or later as there are no new condo buildings under construction at the moment.  A lot of owners have been doing total remodels on their existing condos, so its possible to buy a resale with a newer interior.  All but two condo buildings in downtown are over 10 years old now, most are 15-20 years old and just a select few over 20 years old. 

Condo prices in downtown have risen over 29% in the last 12 months and as you will see in the price history chart (link below) prices have really accelerated in 2022 for the reasons noted above. 

Click here to see my price history chart.

There are two huge construction projects going on in Downtown San Diego that will add several thousand jobs and buyers for near by residential properties.  To read about them see the articles on my blog. 

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